[ANN] HaoBTC launches fixed term deposit account

[Eric Mu]

Statement:
Going forward, anyone who has a legitimate claim that loss has been caused by withdrawal delay due to our fault can send the proof either to my email address eric.mu@haobtc.com or WeChat and get a compensation no less than the loss. The money will be paid using my personal fund, as the company doesn't have such policy for the time being. I just want to show people that we do care about fairness.

[yslyung]

Statement:
Going forward, anyone who has a legitimate claim that loss has been caused by withdrawal delay due to our fault can send the proof either to my email address eric.mu@haobtc.com or WeChat and get a compensation no less than the loss. The money will be paid using my personal fund, as the company doesn't have such policy for the time being. I just want to show people that we do care about fairness.

thx so much eric for understanding ... this issue is being sorted out as i'm typing this out & i'm being compensated.

like i mentioned earlier, it's not a matter of big or small amount, it;s fairness & transparency. good job eric !

i hope haobtc can/will find a solution to this matter not eric paying from his personal funds. have to be fair to everyone.

looking fwd to further improvements.

[ranlo]

Statement:
Going forward, anyone who has a legitimate claim that loss has been caused by withdrawal delay due to our fault can send the proof either to my email address eric.mu@haobtc.com or WeChat and get a compensation no less than the loss. The money will be paid using my personal fund, as the company doesn't have such policy for the time being. I just want to show people that we do care about fairness.

thx so much eric for understanding ... this issue is being sorted out as i'm typing this out & i'm being compensated.

like i mentioned earlier, it's not a matter of big or small amount, it;s fairness & transparency. good job eric !

i hope haobtc can/will find a solution to this matter not eric paying from his personal funds. have to be fair to everyone.

looking fwd to further improvements.

Huge +1 to Eric, but I'm with you on this: the company itself should have a policy; an individual shouldn't have to pay this out of pocket.

[Mikestang]

I think the interest is the same for 10 or 20 btc.

Yes, you get a higher rate in financing by investing for a loner term, not a larger amount.

Statement:
Going forward, anyone who has a legitimate claim that loss has been caused by withdrawal delay due to our fault can send the proof either to my email address eric.mu@haobtc.com or WeChat and get a compensation no less than the loss. The money will be paid using my personal fund, as the company doesn't have such policy for the time being. I just want to show people that we do care about fairness.

Now that's putting your best foot forward, hopefully HaoBTC will follow your lead and develop a company policy so you don't have to cover these losses on your own.

[Eastwind]

Statement:
Going forward, anyone who has a legitimate claim that loss has been caused by withdrawal delay due to our fault can send the proof either to my email address eric.mu@haobtc.com or WeChat and get a compensation no less than the loss. The money will be paid using my personal fund, as the company doesn't have such policy for the time being. I just want to show people that we do care about fairness.

Now that's putting your best foot forward, hopefully HaoBTC will follow your lead and develop a company policy so you don't have to cover these losses on your own.

I think so. It is Haobtc's responsibility

[DebitMe]

I am trying out HaoBTC with a small deposit to test the banking system.  Is there any interest in joining funds so that we can get to at least 10 btc to get the financing rate for those who don't want to put that much btc onto the site?

[ranlo]

I am trying out HaoBTC with a small deposit to test the banking system.  Is there any interest in joining funds so that we can get to at least 10 btc to get the financing rate for those who don't want to put that much btc onto the site?

This is risky. Then you're introducing a third failure point:

1) Bitcoin itself
2) HaoBTC
3) The partner

The normal interest would be much better in this situation, I believe.

[DebitMe]

I am trying out HaoBTC with a small deposit to test the banking system.  Is there any interest in joining funds so that we can get to at least 10 btc to get the financing rate for those who don't want to put that much btc onto the site?

This is risky. Then you're introducing a third failure point:

1) Bitcoin itself
2) HaoBTC
3) The partner

The normal interest would be much better in this situation, I believe.

Yea, I am just putting a little into this, its still a very new service.  And I understand your concerns, was just curious.

[ranlo]

I am trying out HaoBTC with a small deposit to test the banking system.  Is there any interest in joining funds so that we can get to at least 10 btc to get the financing rate for those who don't want to put that much btc onto the site?

This is risky. Then you're introducing a third failure point:

1) Bitcoin itself
2) HaoBTC
3) The partner

The normal interest would be much better in this situation, I believe.

Yea, I am just putting a little into this, its still a very new service.  And I understand your concerns, was just curious.

I get ya. And it wasn't against you, it's against anyone, really (including your own protection). It's a lot like alts and exchanges. They introduce so many failure points that you end up in a high-risk low-reward situation. Highly advise against that.

[Eric Mu]

Important Announcement:

Dear HaoBTC users,

Due to product structure adjustment, HaoBTC has decided to drop the interest rate for its flexible-term investment service, aka Banking from the current 8% per annum to 6% p.a. This will be effective starting 2:00 am GMT. HaoBTC's fixed term deposit product, or Financing, will not be affected.

Eric Mu

[kenscho]

Important Announcement:

Dear HaoBTC users,

Due to product structure adjustment, HaoBTC has decided to drop the interest rate for its flexible-term investment service, aka Banking from the current 8% per annum to 6% p.a. This will be effective starting 2:00 am GMT. HaoBTC's fixed term deposit product, or Financing, will not be affected.

Eric Mu

why you do this?
this is very bad!

[BitcoinNewsMagazine]

Dropping the banking interest rate from 8% to 6% was unfortunate. I hope you reconsider and bring back the 8% rate. At only 6% return I think you will see bitcoin moving from HaoBTC to Hashnest PACMiC v2.

[ranlo]

Dropping the banking interest rate from 8% to 6% was unfortunate. I hope you reconsider and bring back the 8% rate. At only 6% return I think you will see bitcoin moving from HaoBTC to Hashnest PACMiC v2.

The issue is with Hashnest, you're tying up those funds and may or may not get back the principal (depending on mining difficulty). With HaoBTC, you can pull them out at any time, never losing any principal and getting free funds on top of that.

[DebitMe]

Dropping the banking interest rate from 8% to 6% was unfortunate. I hope you reconsider and bring back the 8% rate. At only 6% return I think you will see bitcoin moving from HaoBTC to Hashnest PACMiC v2.

The issue is with Hashnest, you're tying up those funds and may or may not get back the principal (depending on mining difficulty). With HaoBTC, you can pull them out at any time, never losing any principal and getting free funds on top of that.

No offense to HaoBTC on this point, but Hashnest has been around a lot longer and is more trustworthy IMO.  I am not calling anyone anything, but this is still a very new company.  Honestly, I am on the edge about what to do with my deposits.  6% seems just too low to justify the risk, but I haven't withdrawn yet.  On the other hand, dropping the interest rate shows a level of trustworthiness instead of just paying out dividends that are very high and unsustainable to try to lure more people in.

[ranlo]

Dropping the banking interest rate from 8% to 6% was unfortunate. I hope you reconsider and bring back the 8% rate. At only 6% return I think you will see bitcoin moving from HaoBTC to Hashnest PACMiC v2.

The issue is with Hashnest, you're tying up those funds and may or may not get back the principal (depending on mining difficulty). With HaoBTC, you can pull them out at any time, never losing any principal and getting free funds on top of that.

No offense to HaoBTC on this point, but Hashnest has been around a lot longer and is more trustworthy IMO.  I am not calling anyone anything, but this is still a very new company.  Honestly, I am on the edge about what to do with my deposits.  6% seems just too low to justify the risk, but I haven't withdrawn yet.  On the other hand, dropping the interest rate shows a level of trustworthiness instead of just paying out dividends that are very high and unsustainable to try to lure more people in.

Again, the issue is that with one, you're buying something that most likely will never ROI. So you're going into an almost guaranteed loss from the get-go, no matter who you're purchasing it from.

[DebitMe]

Dropping the banking interest rate from 8% to 6% was unfortunate. I hope you reconsider and bring back the 8% rate. At only 6% return I think you will see bitcoin moving from HaoBTC to Hashnest PACMiC v2.

The issue is with Hashnest, you're tying up those funds and may or may not get back the principal (depending on mining difficulty). With HaoBTC, you can pull them out at any time, never losing any principal and getting free funds on top of that.

No offense to HaoBTC on this point, but Hashnest has been around a lot longer and is more trustworthy IMO.  I am not calling anyone anything, but this is still a very new company.  Honestly, I am on the edge about what to do with my deposits.  6% seems just too low to justify the risk, but I haven't withdrawn yet.  On the other hand, dropping the interest rate shows a level of trustworthiness instead of just paying out dividends that are very high and unsustainable to try to lure more people in.

Again, the issue is that with one, you're buying something that most likely will never ROI. So you're going into an almost guaranteed loss from the get-go, no matter who you're purchasing it from.

The PACMiC is never going to ROI?

At a difficulty increase of 5%, 1 TH/s will become unprofitable in roughly 192 days.
At a difficulty increase of 5%, 1 TH/s will mine 1 btc in roughly 139 days.

That doesn't seem like a guaranteed loss from the gitgo, I agree there is a chance, but is it any higher than a new company running away with deposits?

[ranlo]

Dropping the banking interest rate from 8% to 6% was unfortunate. I hope you reconsider and bring back the 8% rate. At only 6% return I think you will see bitcoin moving from HaoBTC to Hashnest PACMiC v2.

The issue is with Hashnest, you're tying up those funds and may or may not get back the principal (depending on mining difficulty). With HaoBTC, you can pull them out at any time, never losing any principal and getting free funds on top of that.

No offense to HaoBTC on this point, but Hashnest has been around a lot longer and is more trustworthy IMO.  I am not calling anyone anything, but this is still a very new company.  Honestly, I am on the edge about what to do with my deposits.  6% seems just too low to justify the risk, but I haven't withdrawn yet.  On the other hand, dropping the interest rate shows a level of trustworthiness instead of just paying out dividends that are very high and unsustainable to try to lure more people in.

Again, the issue is that with one, you're buying something that most likely will never ROI. So you're going into an almost guaranteed loss from the get-go, no matter who you're purchasing it from.

The PACMiC is never going to ROI?

At a difficulty increase of 5%, 1 TH/s will become unprofitable in roughly 192 days.
At a difficulty increase of 5%, 1 TH/s will mine 1 btc in roughly 139 days.

That doesn't seem like a guaranteed loss from the gitgo, I agree there is a chance, but is it any higher than a new company running away with deposits?

I get what you mean. I mean, it's not like Mt. Gox was around for a that long before they ran. Or Trendon Shavers. Or TradeFortress. Or (insert many other scenarios here).

HaoBTC is pretty transparent as far as I can see, including personal information of employees and the business itself.

[Eric Mu]

Urgent statement

Dear HaoBTC customers:
HaoBTC will temporarily close its Website (haobtc.com ) to facilitate an UI upgrade. This process is estimated to last two hours - from 14:00 to 16:00 Beijing Time. We apologize for any inconveniences this may cause you and will try our best to render any assistance for the duration.

[BabelFish]

After the UI upgrade, I have an invalid phone number in my settings. I found out that it is not possible to unbind an invalid phone number from the settings.
How can someone unbind the phone setting, when they need to receive the verification code by phone (but the phone doesn't work)?

[Eric Mu]

After the UI upgrade, I have an invalid phone number in my settings. I found out that it is not possible to unbind an invalid phone number from the settings.
How can someone unbind the phone setting, when they need to receive the verification code by phone (but the phone doesn't work)?

Just asked the tech on your behalf. Will let you know when reply comes